India’s competition regulator on Tuesday fined three domestic airlines a combined US$39 million for colluding to fix fuel surcharges for cargo transport.
Jet Airways, IndiGo, and SpiceJet were each hit with a penalty for “concerted action in fixing and revising Fuel Surcharge for transporting cargo”, the Competition Commission of India said in a statement.
National carrier Air India and Go Airlines were also alleged to have been involved in anti-competitive practices in a complaint filed to the watchdog by the Express Industry Council of India, which represents couriers. However, those two airlines were not penalised after the regulator said it found no evidence of collusion.
Jet Airways was handed the largest penalty of 1.5 billion rupees, IndiGo’s parent company InterGlobe Aviation was fined 637 million rupees and budget carrier SpiceJet was fined 425 million rupees.
Indian airlines have struggled in recent years, losing a combined US$10 billion since 2009, according to the Sydney-based Centre for Asia Pacific Aviation, while most are weighed down with debt. The Commission said it had considered the “precarious financial position of airlines” in setting the penalties, which it said represented one per cent of each airline’s average turnover in the past three financial years.
Full content: First Post
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Judge Mehta Questions Both Sides in Landmark Google Antitrust Case
May 2, 2024 by
CPI
FCC Urges Urgent Funding for Removal of Chinese Telecom Equipment from U.S. Networks
May 2, 2024 by
CPI
Former Pioneer CEO Facing Potential Criminal Charges For Colluding With OPEC
May 2, 2024 by
CPI
South Korea’s Antitrust Regulator Greenlights K-Pop Powerhouse Deal
May 2, 2024 by
CPI
Exxon’s Pioneer Purchase Approved, Former CEO Barred from Board
May 2, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI